391,762 Shares in Upstream Bio, Inc. $UPB Purchased by Bank of America Corp DE

Key Points

• Bank of America purchased 391,762 shares of Upstream Bio during the second quarter, valued at approximately $2.7 million and representing about 0.72% of the company.
• Several institutional investors also established positions, including BlackRock with an investment valued at roughly $26.0 million and Parkman Healthcare Partners with about $6.5 million.
• Upstream Bio reported a quarterly loss of $0.73 per share, slightly beating estimates, while analyst sentiment remained mixed with an overall “Hold” rating and an average price target of $29.67.

Bank of America Corp DE bought a new stake in Upstream Bio, Inc. (NASDAQ:UPB - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 391,762 shares of the company's stock, valued at approximately $2,711,000. Bank of America Corp DE owned approximately 0.72% of Upstream Bio as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Walleye Capital LLC bought a new stake in Upstream Bio during the 2nd quarter worth about $3,450,000. Deutsche Bank AG acquired a new position in shares of Upstream Bio during the 2nd quarter worth about $1,671,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Upstream Bio in the 1st quarter valued at about $1,666,000. Parkman Healthcare Partners LLC acquired a new stake in shares of Upstream Bio in the second quarter valued at about $6,472,000. Finally, BlackRock Inc. acquired a new stake in shares of Upstream Bio in the second quarter valued at about $25,973,000.

Upstream Bio Trading Up 1.5%

UPB stock opened at $5.27 on Thursday. The firm has a market capitalization of $288.64 million, a PE ratio of -1.82 and a beta of 1.28. Upstream Bio, Inc. has a 1-year low of $4.99 and a 1-year high of $33.68. The business's 50 day simple moving average is $6.30 and its 200 day simple moving average is $7.57.

Upstream Bio (NASDAQ:UPB - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.01. The business had revenue of $0.77 million during the quarter, compared to the consensus estimate of $0.56 million. Upstream Bio had a negative return on equity of 48.40% and a negative net margin of 4,955.67%. As a group, sell-side analysts predict that Upstream Bio, Inc. will post -2.84 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Upstream Bio from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Friday, August 14th. Wall Street Zen cut Upstream Bio from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. Weiss Ratings raised Upstream Bio from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, August 17th. Truist Financial decreased their target price on shares of Upstream Bio to $25.00 and set a "buy" rating for the company in a research note on Tuesday, August 11th. Finally, HC Wainwright restated a "buy" rating and set a $36.00 target price on shares of Upstream Bio in a report on Wednesday, September 2nd. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $29.67.

Upstream Bio Company Profile

Upstream Bio, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for inflammatory and immune-mediated diseases. The company's research is centered on targeting biological pathways involved in chronic inflammation, with the goal of addressing conditions that may not be adequately controlled by existing therapies.

Upstream Bio's lead product candidate is verekitug, a monoclonal antibody designed to block thymic stromal lymphopoietin (TSLP), an epithelial-cell-derived cytokine that plays a role in initiating and sustaining allergic and inflammatory responses.

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